JAKARTA The leading blockchain platform, Cardano (ADA), is reportedly preparing to launch its new stablecoin, USDM. The stablecoin is planned to be launched in the United States on March 16.
According to a Coinspeaker report, the launch marks an important milestone in the Cardano ecosystem, which recently recorded significant achievements with Cardano Treasury that surpassed $1 billion and 10 million block records.
For additional information, the value of USDM stablecoins is bound to one in one with a US dollar value. For example, every 1 USDM token is supported by 1 US dollar held in a US bank. Fiat currency support for USDM stablecoins is used to ensure its value stability in the volatile crypto world.
Recent information suggest that USDM will be available in 19 US states. This is claimed to provide direct access for its users to the Cardano ecosystem. Published by Mehen Finance LLC, USDM is said to have complied with the strict policies of Know Your Customer (KYC)/ Anti Money Laundering (AML) and US financial regulations. Mehen Finance guarantees integrity and security in USDM stablecoin transactions.
Additional information, KYC or Know Your Customer is a verification process used by crypto exchanges and other financial platforms to confirm their user identities. The goal is to prevent financial crimes such as money laundering by ensuring that the platform is aware of basic information about their customers.
While the rules of Anti Money Laundering alias AML are a series of procedures and regulations designed to prevent criminals from using crypto assets to hide the origins of illegally obtained funds.
관련 항목:
USDM offers transaction flexibility on Cardano blockchain without restrictions, supports payments, remittances, and DeFi activities. This allows projects in the Cardano ecosystem to increase liquidity and reach wider users.
Cardano's latest stablecoin not only functions as a transaction tool but also as a bridge between traditional finance and the Cardano ecosystem. By facilitating fiat-to-ADA registration, Mehen Finance seeks to attract new users and expand USDM's reach to enlarge Cardano's liquidity pool.
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